Planning for and enjoying your retirement

How soon are you planning to retire? Whether it's in 10, 20, or even 40 years, if you want to live comfortably in retirement, you should be planning for it now.

Kiwibank has some great savings accounts, investment options and the Gareth Morgan KiwiSaver Scheme to help you prepare for retirement. If you're already retired, we offer great deals for SuperGold card holders and Grey Power members.

We also have locally based Wealth Advisers throughout New Zealand who’ll work with you to help you figure out what’s right for you.

Boost your retirement savings

There are a few main ways to fund your retirement - NZ Superannuation and personal savings and investments. Superannuation only goes so far and many people prefer to top it up.

KiwiSaver is a great way to get your retirement savings started. KiwiSaver is a government superannuation savings scheme delivered in conjunction with banks and other financial institutions.

Kiwibank now distributes the Gareth Morgan KiwiSaver Scheme, which is 100% NZ-owned and operated, with first-class customer service and innovative reporting that shows you where your money’s invested down to individual shares, funds and currencies. Kiwibank customers that join the Gareth Morgan KiwiSaver Scheme can view and manage their Gareth Morgan KiwiSaver Scheme account through Kiwibank Internet Banking.

Kiwibank's savings account and investment options are also a great way to help reach your goals.

How much you'll need

To work out how much you'll need in retirement, consider how many years you're likely to be retired for and how much it'll cost to live the lifestyle you want. Compare the annual cost to what you're likely to get from superannuation. If there's a shortfall, you'll need to find a way to top up your NZ Super.

Where will you live?

Will you live in your own home or will you rent? Is living with family an option or are you considering a retirement village? Having an idea now of where you might live later can help you work out how much you'll need to save.

If you have a larger family home you may want to consider downsizing to release some equity.

Wills and enduring power of attorney

Many people pass away without making a will, which can mean extra financial and emotional stress for family and friends. Enlist the help of someone experienced when making your will, they'll make sure everything's done properly so the will is valid.

It's also worth appointing a power of attorney - someone who can take care of your personal and financial matters if you can't.

Benefits for SuperGold cardholders

We reward SuperGold cardholders with no transaction fees on all Kiwibank everyday accounts (service fees may apply). We also offer discounts on home and contents insurance.

To enjoy these benefits, simply present your SuperGold card at your local Kiwibank. Services fees may apply. If you're not yet a Kiwibank customer, call us on 0800 11 33 55 to make an appointment to set up your accounts.

Grey Power and Kiwibank

We've always been a great supporter of the New Zealand Grey Power Federation. We have a formal partnership with Grey Power, where we pay them a commission for every dollar a Grey Power member or the Grey Power federation deposits with us.

How you can support Grey Power

If you're a Kiwibank customer and a Grey Power member, and want to be included in our commission support of Grey Power, you need to let us know.

You can notify us of your Grey Power membership by downloading and completing a pdfGrey Power Commission form (PDF 25 KB). Drop the form into your local Kiwibank or send it to:

Kiwibank Limited
Freepost 161688
Private Bag 39888
Wellington 5045.

If you're planning on opening a new Kiwibank account and want to support Grey Power, you'll need to let us know you're a Grey Power member. Please print off and complete a copy of the pdfGrey Power Notification form (PDF 28 KB) and bring it with you when you come in to open your account.

More about Kiwibank and Grey Power

If you'd like to know more about the Grey Power and Kiwibank partnership, please email greypower@kiwibank.co.nz or ask at your local or national Grey Power office.

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Conditions

Download the pdfInvestment Statement for the Gareth Morgan KiwiSaver Scheme (PDF 684 KB) or pick up a copy at your local Kiwibank.

Gareth Morgan KiwiSaver Limited is the Issuer and Manager of the Gareth Morgan KiwiSaver Scheme (GMK) and is a related company of Kiwibank. Public Trust is the Trustee of GMK. Kiwibank is a distributor but is not an issuer or promoter of GMK. Investments made in GMK do not represent bank deposits or other liabilities of Kiwibank Limited, New Zealand Post Limited or any other member of the New Zealand Post Group.